Changing Trends in Business Travel Booking in 2016-2017

Publisher Name :
Date: 11-Oct-2016
No. of pages: 49
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Summary

The majority of travel and tourism executives have no preferred travel provider. Comfortable seating, free baggage check, and free Wi-Fi access on flights are most likely to influence travelers when choosing one airline over another. The majority of travelers favor car rental companies that offer car drop-off and pick-up services. Moreover, 24-hour on-road and in-car assistance service, and GPS navigation services are other key factors likely to influence the selection of a car rental company. The highest percentage of travelers intend to spend fewer than two days on leisure when extending a business trip. However, executives' premium travel plans largely affected by global economic uncertainty and rising expenses. Volatility in the global economic environment has forced travelers to adopt a more cautious approach towards travel expenditure, as focus shifts towards cost containment.

Key Findings


  • The majority of executives have no preferred travel provider

  • Pricing, well-known brands, and availability of deals and packages are decisive for airline bookings

  • The highest percentage of executives favor car rental companies that offer car drop-off and pick-up services

  • Most senior executives consider travel meta-search options crucial for business travel plans Rising expenses and global economic uncertainty influences cuts in premium travel


Synopsis

Canadean's changing trends in business travel booking in 2016-2017 survey examines factors influencing airline and hotel bookings, and examines executives' responses when a business trip is extended to a leisure trip. It also provides information about key parameters influencing airline and car rental company choices, and assesses the significance of travel meta-search options for business travelers.

What else does this report offer?


  • Key factors for airline selection: the report examines reasons, other than lower ticket prices, that are most likely to influence business travelers to opt for one airline over another

  • Vital parameters affecting car rental company choices: the report identifies key factors, other than lower rental costs, that are most likely to make business travelers choose one car rental company over another

  • Significance of travel meta-search options: the report assesses the importance of travel meta-search options for creating business travel plans, and identifies popular travel meta-search websites used by business travelers in the last six months

  • Factors influencing hotel booking decisions: the report identifies key factors that are decisive for hotel bookings

  • Companies' approach to business travel booking: the report examines how companies manage business travel bookings

  • Reasons affecting cutbacks in premium travel plans: the report identifies key reasons for cutbacks in premium travel plans

  • Staying preferences during extension of business trips: the report examines the staying patterns of executive when a business trip is extended to a leisure trip

  • Cutback expectations for group incentive travel programs: the report assesses executives' viewpoints about cutbacks in group incentive travel programs


Reasons To Buy


  • The report highlights companies' approaches to business travel bookings, enabling travel operators to restructure their business travel plans

  • The report enables readers to make strategic decisions by understanding the relevance of travel meta-search options, and identifying popular travel meta-search websites used by business travelers

  • The report examines key factors influencing executives' airline and hotel-booking decisions. This will help companies to improve customer service and implement development strategies

  • The report provides cutback expectations about group incentive travel programs, which are likely to influence growth prospects

  • The report highlights staying preferences during extensions of business trips to leisure trips, along with the number of extra days spent for leisure purposes. This will help to gauge consumer behavior


Companies Mentioned


  • Google

Changing Trends in Business Travel Booking in 2016-2017

Table of Contents

1 Introduction
1.1 Definitions
1.2 Methodology and sample size
1.3 Respondent profile

2 Company's approach on selecting airline and car rental choice for business travel
2.1 Companies' approaches to business travel booking
2.1.1 The majority of executives have no preferred travel provider
2.1.2 The highest percentage of large companies have a preferred air carrier, compared to small and medium-sized companies
2.2 Key factors for airline selection
2.2.1 Airline choice is influenced by comfortable seating, free baggage check, and free Wi-Fi access on flights
2.2.2 Good communication with airlines for pre-flight check-ins, flight updates via text message, etc. is a key selection criterion for executives operating in Europe
2.2.3 Ability to select seatmates prior to the flight is the least favored criterion for airline selection among senior-level executives
2.3 Decisive criteria for airline booking
2.3.1 Pricing, well known brands, and availability of deals and packages are decisive for airline bookings
2.3.2 Price the most influential factor in airline booking, regardless of region
2.3.3 In addition to pricing, the majority of executives from medium-sized companies prefer to select airlines on the basis of deals and packages
2.3.4 Good online reviews have relatively little impact on airline booking decisions by senior executives
2.4 Key parameters for car rental company
2.4.1 The highest percentage of executives favor car rental companies that offer car drop-off and pick-up services
2.4.2 Of executives from large companies, 67% choose a car rental company on the basis of provision for car drop-off and pick-up services
2.4.3 Of senior-level executives, 51% prefer a car rental company that provides car drop-off and pick-up services
2.5 Factors influencing hotel-booking decisions
2.5.1 Good online customer reviews, and deals and packages are key factors for hotel booking
2.5.2 Overall, 77% of executives operating in Asia-Pacific consider official star rating a factor in hotel-booking decisions
2.5.3 Of respondents from large companies, 83% each assign importance to deals and packages, and well-known brands for hotel reservations

3 Prospects for extending a business trip to a leisure trip
3.1 Extension of business trips for leisure purposes - additional days' leisure spend
3.1.1 The highest percentage of respondents spend fewer than two days on leisure when extending a business trip
3.1.2 Of senior-level executives, 13% did not extend business trip to a leisure trip
3.2 Extension of business trips for leisure purposes - staying preferences
3.2.1 Most respondents stay in the same hotel when a business trip is extended to a leisure trip
3.2.2 Regardless of region, the majority of executives prefer to stay in the same hotel when a business trip is extended to a leisure trip
3.2.3 Of industry respondents, 73% from medium-sized companies did not move to a different hotel when extending a business trip to a leisure trip

4 Travel meta search options
4.1 Significance of travel meta-search options
4.1.1 Of executives, 76% regard travel meta-search options as decisive for developing travel plans
4.1.2 Most hotel respondents consider meta-search options to be important for business travel plans
4.1.3 Regardless of region, executives expect travel meta-search options to play crucial role in forming business travel plans
4.1.4 Of respondents from medium-sized companies, 73% view travel meta-search options significant for business travel plans
4.1.5 Most senior executives consider travel meta-search options to be crucial for business travel plans
4.2 Popular travel meta-search websites
4.2.1 Trip Advisor and Expedia are the most used travel meta-search websites by executives in the last six months
4.2.2 Trip Advisor was the most preferred travel meta-search websites among respondents operating in independent hotels
4.2.3 Regardless of region of operation, most industry respondents used Trip Advisor and Expedia during the last six months
4.2.4 Of executives from large companies, 75% have used Expedia in the last six months
4.2.5 Deal base was the least-used travel meta-search site among senior-level executives during the last six months

5 Budget cutbacks for group incentive travel programs
5.1 Cutback expectations for group incentive travel programs
5.1.1 Executives expecting no change in budgets for group incentive travel programs
5.1.2 Most hotel-chain respondents anticipate a gradual reduction in group incentive travel
5.1.3 The highest percentage of executives in Europe expect no change in budget for group incentive travel programs
5.1.4 Of executives from large companies, 61% expect unfavorable prospects for group incentive travel programs
5.1.5 Most decision makers do not foresee any changes for group incentive travel programs
5.2 Reasons for cutbacks in premium travel plans
5.2.1 Rising expenses and global economic uncertainty influencing cuts in premium travel
5.2.2 Global economic uncertainty is the major deterrent to premium travel plans for executives from hotel chains and independent hotels
5.2.3 Rising costs a major cause of cutbacks in premium travel plans for executives who operate in North America
5.2.4 Premium travel plans of executives in large and medium-sized companies not adversely affected by lack of deals and packages
5.2.5 Of senior-level executives, 54% rate global economic uncertainty as a key reason for cutbacks in premium travel plans

6 Appendix

List of Figures

Figure 1: Profile of Respondents - By Company Type and Designation
Figure 2: Profile of Respondents - By Region and Turnover
Figure 3: Facilities offered by companies while booking for business travels - Overall and Region
Figure 4: Facilities offered by companies while booking for business travels - Company type
Figure 5: Role of promotional offers in traveler's selection of airline carriers - Overall
Figure 6: Role of promotional offers in traveler's selection of airline carriers - Region
Figure 7: Role of promotional offers in traveler's selection of airline carriers - Senior-level respondents
Figure 8: Major factors influencing airline travel booking - Overall
Figure 9: Major factors influencing airline travel booking - Region
Figure 10: Major factors influencing airline travel booking - Company type
Figure 11: Major factors influencing airline travel booking - Senior-level respondents
Figure 12: Importance of promotional offers in traveler's selection for car rentals - Overall
Figure 13: Importance of promotional offers in traveler's selection for car rentals - Company type
Figure 14: Importance of promotional offers in traveler's selection for car rentals - Senior-level respondents
Figure 15: Key drivers influencing hotel booking - Overall
Figure 16: Key drivers influencing hotel booking - Region
Figure 17: Key drivers influencing hotel booking - Company type
Figure 18: Traveler's view in extending a business trip to a leisure trip - Overall and Region
Figure 19: Traveler's view in extending a business trip to a leisure trip - Company type and Senior-level respondents
Figure 20: Hotel preference for a leisure stay - Overall
Figure 21: Hotel preference for a leisure stay - Region
Figure 22: Hotel preference for a leisure stay - Company type and Senior-level respondents
Figure 23: Significance of travel meta search options - Overall
Figure 24: Significance of travel meta search options - Respondents
Figure 25: Significance of travel meta search options - Region
Figure 26: Significance of travel meta search options - Company type
Figure 27: Significance of travel meta search options - Senior-level respondents
Figure 28: Leading travel meta search websites - Overall
Figure 29: Leading travel meta search websites - Respondents
Figure 30: Leading travel meta search websites - Region
Figure 31: Leading travel meta search websites - Company type
Figure 32: Leading travel meta search websites - Senior-level respondents
Figure 33: Frequency of group incentive travel programs - Overall
Figure 34: Frequency of group incentive travel programs - Respondents
Figure 35: Frequency of group incentive travel programs - Region
Figure 36: Frequency of group incentive travel programs - Company type
Figure 37: Frequency of group incentive travel programs - Senior-level respondents
Figure 38: Major barriers influencing cutbacks in premium travel plans - Overall
Figure 39: Major barriers influencing cutbacks in premium travel plans - Respondents
Figure 40: Major barriers influencing cutbacks in premium travel plans - Region
Figure 41: Major barriers influencing cutbacks in premium travel plans - Company type
Figure 42: Major barriers influencing cutbacks in premium travel plans - Senior-level respondents

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